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Management Report
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18
| Interview with Dr Hannes Schmid
Local services: others are closing down,
Raiffeisen remains
So Raiffeisen won't see any of the staff cuts that other banks
are implementing?
We are certainly not planning on any staff
cuts. We will instead, as already mentioned, invest in training our
employees with a view to focusing even more on customers.
Other companies are tending to cut back on local services
and closing branches. What do you think of this?
Personally, I
can hardly believe how quickly local services are being aban-
doned by some institutions and companies. In contrast, Tyrol
Raiffeisen banks believe in their model for success, in proximity to
customers, and will continue to focus on their local markets with
high-quality financial services. We have an excellent structure
for meeting customer needs efficiently. This not only involves
personal contact but also highly sophisticated technologies, e.g.
Raiffeisen online banking.
No cuts in sponsoring
How have savers and borrowers in Tyrol managed in the last
few difficult years?
Tyrol has proved that stable development is
possible even in times of difficulty. Our enterprises have respond-
ed very rapidly and adapted to the new circumstances. This can
be seen as praise for the entrepreneurial spirit in Tyrol, although
for some SMEs, not all the post-crisis pain is now past. In relation
to tourism, the investment in quality tourism appears to guarantee
success in the future. Raiffeisen banks have demonstrated that
they have successfully overcome the crisis with their business
model. Another aspect that has also been viewed very positively
by the people in our federal state is the fact that we have not
cut back on our sponsorship of initiatives, clubs etc. We have
continued our sponsorship programme unchanged at five million
Euro per year. While many other institutions or firms have stopped
or greatly reduced their sponsorship involvement during the eco-
nomic crisis, Raiffeisen has not done so. As a consequence, we
feel that Tyroleans have been become very much more aware of
the importance of a local banking business. This is now appreci-
ated very much more than previously.
What is the outlook for the near future? Are high rates of infla-
tion a threat together with interest rate hikes, which would be
unpleasant for borrowers?
Current trends, with rising prices for
commodities and energy, naturally tend to increase the rate of
inflation. Due to the high levels of government debt, however, we
do not expect any steep rise in interest rates. We can reckon on
relatively stable interest rates for some time to come. I do note
see Euribor rising to four per cent in the foreseeable future.
What can Tyroleans expect in future from their Raiffeisen-
bank?
Our multi-level system is an ideal configuration for our cus-
tomers: local users have available their local Raiffeisen bank as a
banking partner. Anyone with regional operations can turn to the
Raiffeisen-Landesbank. And for international projects, Raiffeisen
Bank International is an ideal partner. The message is clear at all
levels: "Speak with your Raiffeisen advisor about your financial
future." We can advice businesses and private customers in all
phases according to their particular needs. The Raiffeisen organi-
sation is well equipped for the future with its stability, customer
proximity and customer orientation. We will not diverge from this
business philosophy even in future.
Thank you very much for the interview.
"The Raiffeisen
organisation is well
equipped for the future
with its stability, customer
proximity and customer
orientation. We will not
diverge from this business
philosophy even in future."